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How much is a deed of variation to sublet a leasehold flat please?
pokeyteach
Posts: 1 Newbie
I bought a flat in April with a residential mortgage with every intention of living in it myself.
My circumstances have changed and I am now unable to reside in the flat so have let it to tenants.
The freeholder of the building has now contacted me (and the other 4 flats in the flat) to say that our leases do not permit subletting and that we need to apply to them for a deed of variation. The cost of this is £3,700 for each flat!!! I assume I will also incur fees from my solicitor as well.
Please can someone advise on whether this is a reasonable rate.
I have told the freeholder I cannot afford this and he has said to come back to him with an offer for negotitation.
HELP!!!!
My circumstances have changed and I am now unable to reside in the flat so have let it to tenants.
The freeholder of the building has now contacted me (and the other 4 flats in the flat) to say that our leases do not permit subletting and that we need to apply to them for a deed of variation. The cost of this is £3,700 for each flat!!! I assume I will also incur fees from my solicitor as well.
Please can someone advise on whether this is a reasonable rate.
I have told the freeholder I cannot afford this and he has said to come back to him with an offer for negotitation.
HELP!!!!
0
Comments
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You need professional advice from a lawyer and a valuer experienced in this area of the law and valuation. With hindsight, you should have checked the lease with your lawyer, and with your mortgagee (if you have a mortgage) before letting the property. I know of cases where the freeholder has given consent for a short-term let without charging a fee or insisting on a deed of variation.0
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